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Qualification Shares:
S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.
Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).
2. S.186 : Age Limit
S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-
a) He has not attained the age of twenty-one; or
b) b) he has attained the age of seventy.
Order for compulsory liquidation: The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.
Meeting is Unnecessary - meetings and resolutions: The purpose of holding general meetings with all the formality which this entails is to give to each member the opportunity
Part A Approach a small business owner and find out the following: a. What is the legal structure of their business? - Discretionary trust legal structure for an Accounti
What are the state foreign policy The states disregard the operational rule, that power must be counter balanced - they place their over security in jeopardy. "The balance of p
Valid But Irregular Allotments: An allotment of shares is valid but irregular under S.52 (3) if it was made before the time of the opening of the subscription lists. The secti
Societies: Societies are associations registered under the Societies Act 1968. Section 2(1) of the Act defines a society very broadly as including any club, co
Form of reconstruction: Where one company transfers its undertaking (and assets) to another company in exchange for shares to be alloted direct or distributed to the members o
Powers: The ultra vires doctrine limits a company's powers to the attainment of the company's objects under its memorandum of association. Partnerships are not affected by t
Corporation Sole - Types of Corporations However this is a legal office that is occupied through one human being only at any one time. Whether the person ceases to occupy
Explain the Causation, Remoteness and Contributory Negligence in short. Causation: When the accident was going to occur anyway then causation is not proved, which is a third
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